Examlex
Duplicating film:
Noncooperative Games
A type of game theory in which players make decisions independently, without colluding or forming alliances, often leading to suboptimal outcomes for all involved.
Homogeneous Good
A product or service that is considered identical or very similar no matter who produces it, making price the main differentiator.
Nash Equilibrium
A concept in game theory where no participant can gain by a unilateral change of strategy if the strategies of the others remain unchanged.
Annual Profit
The total revenue a company generates in one year after all expenses have been deducted.
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